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The Mississippi River closed to vessel traffic north of St. Louis after a 12-barge tow carrying corn broke apart and hit Lock and Dam 25. Barge freight rates jumped on Midwest rivers while recovery work was expected to take several days.
Blocked northbound and southbound grain movements tighten barge capacity and raise freight costs, supporting barge rates while weighing on Midwest corn and soybean cash bids.
marinelink.comTom PolansekSep 26, 2018Not enough comparable past events yet for a historical read.
After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
